BITCOIN

benbay001

Scottex99 said:

Jesus, you know gold right? One of its values is that there isn’t much around? I can still go and buy a gold chain right now... more expensive than a paper chain for that reason. Think about what you’re actually saying.

Massive waste of time, it’s like having a discussion with 5 year olds. Good luck with your “investing”.

Anybody wants take the bet, let me know, charities will gain 👍

Ill take that, yes btc and gold are very similar.

Adjusted for inflation, gold is up by 2x since the 1970s. 

Bitcoin is up 5x in the last year.

Gold is a great store of wealth, but it isnt an investment.

Bitcoin is great money transfer scheme, but it isnt an investment.

Edit: Morning. I look forward to spending another day arguing with you about Bitcoin. 

Further edit: Did you know the US banned gold as an investment glass from the 1930s until the 1970s? And the result was that the price halved, adjusted for inflation.

Give me one reason why the same couldnt happen to BTC?

https://www.macrotrends.net/1333/historical-gold-prices-100-year-chart
https://en.wikipedia.org/wiki/Executive_Order_6102

Scottex99

benbay001 said:

Scottex99 said:

Jesus, you know gold right? One of its values is that there isn’t much around? I can still go and buy a gold chain right now... more expensive than a paper chain for that reason. Think about what you’re actually saying.

Massive waste of time, it’s like having a discussion with 5 year olds. Good luck with your “investing”.

Anybody wants take the bet, let me know, charities will gain 👍

Ill take that, yes btc and gold are very similar.

Adjusted for inflation, gold is up by 2x since the 1970s. 

Bitcoin is up 5x in the last year.

Gold is a great store of wealth, but it isnt an investment.

Bitcoin is great money transfer scheme, but it isnt an investment.

Edit: Morning. I look forward to spending another day arguing with you about Bitcoin. 

Lol, please no.

They are both a store of wealth, they are both an investment. BTC is better for transferring wealth, although you could drive a van full of gold bars to someone if you want. 

I put money into BTC and it becomes worth more or less money over time, what is it if not an investment?

HansOndabush

Scottex99 said:

benbay001 said:

Scottex99 said:

Jesus, you know gold right? One of its values is that there isn’t much around? I can still go and buy a gold chain right now... more expensive than a paper chain for that reason. Think about what you’re actually saying.

Massive waste of time, it’s like having a discussion with 5 year olds. Good luck with your “investing”.

Anybody wants take the bet, let me know, charities will gain 👍

Ill take that, yes btc and gold are very similar.

Adjusted for inflation, gold is up by 2x since the 1970s. 

Bitcoin is up 5x in the last year.

Gold is a great store of wealth, but it isnt an investment.

Bitcoin is great money transfer scheme, but it isnt an investment.

Edit: Morning. I look forward to spending another day arguing with you about Bitcoin. 

Lol, please no.

They are both a store of wealth, they are both an investment. BTC is better for transferring wealth, although you could drive a van full of gold bars to someone if you want. 

I put money into BTC and it becomes worth more or less money over time, what is it if not an investment?

A pure speculation.

HansOndabush

benbay001 said:

Scottex99 said:

in the last year they started listening, everyone is making good % returns now. 

Can you explain who you think they are profiting from exactly?

benbay001, I don't think Scottex99 has any idea, or is not willing to admit from whom he and his mates are profiting.

Bitcoin is not a company, does not produce anything or pay dividends, you can't use it in industry or make anything from it like you can with gold,

The only way that Scottex99 can profit is by the fact that some greater fool is willing to pay a higher price for the Bitcoin tokens that he bought at a lower price. i.e. the latecomers to the party are paying the profits of the early arrivers; is that not the nature of a ponzi scheme?

P1

Pearce7630 said:

Is investing in Bitcoin really worth it or is it all just a scam ? 

It is not a scam.  However the risk reward is not what is was for the last few years, but at the moment it seems silly to sell now.  Do not go all in.  Sign up to a decent exchange like Kraken or Bitstamp.  You also need to understand what self custody means and how to use a hardware wallet.  If you are unable to do this step then I advise you do more research before any purchases.  Its important to understand how that works.  There are a lot of scams in the space though so be careful.  One thing I've noticed is it takes a lot for someone to take the risk and invest into bitcoin.  Then within a month they're looking for the "next bitcoin" for more returns and in turn taking some very high risks that they do not understand.  I suspect bitcoin may top out around September this year and I'm certainly an eye on it.  However do not try and beat the market.  You will lose.  Add in a little every month and remove off the exchange that you are using immediately.  ETH is also something worth considering.  Stupid people try and compare it bitcoin.  Ignore them.  Yes they are both cryptocurrencies, but its like comparing a plane to a submarine.  Suited to their own environments, but will fail in the other!  They have different purposes.  Bitcoin will be the scarcest asset on earth.  It is fact.  However, will it be $0 or 10000000's in 10 years?  Ignore the stupid environmental claims.  Don't read about bitcoin or cryptocurrency in a any newspaper!   They've made an embarrassing hash out of it for years and they are showing no signs of stopping now!

Scottex99

HansOndabush said:

  

benbay001 said:

Scottex99 said:

in the last year they started listening, everyone is making good % returns now. 

Can you explain who you think they are profiting from exactly?

benbay001, I don't think Scottex99 has any idea, or is not willing to admit from whom he and his mates are profiting.

Bitcoin is not a company, does not produce anything or pay dividends, you can't use it in industry or make anything from it like you can with gold,

The only way that Scottex99 can profit is by the fact that some greater fool is willing to pay a higher price for the Bitcoin tokens that he bought at a lower price. i.e. the latecomers to the party are paying the profits of the early arrivers; is that not the nature of a ponzi scheme?

Haha, sure mate.

There is no need to admit anything. We bought some different assets, they've all gone up. Is it that difficult to understand?

Same as if we bought AAPL, is that a Ponzi too? 

Also, "Bitcoin Tokens" Proper lol

HansOndabush

AAPL is a company producing goods and services, employs people, pays dividends; not at all a ponzi. Bitcoin is just a token that some people speculate on.

Scottex99

Ok and when I buy AAPL at $400 and sell it for $500, do I have to disclose who I'm profiting from? Or waste my time worrying about it?

Market determines the value. If I buy a stock or a token, there's a market for me to sell it at the new higher price meaning someone actually wants to buy it, I'm doing them a favour selling it into the order book 

moneywow1

It's so cringe reading posts from people who joined a bull market (the likes of which have never been seen before) and think they are the next Warren Buffett.

Imagine bragging about a 200% return in 3 months when you could make this (or more) betting on practically anything.

Can't wait for the big crash.

benbay001

Scottex99 said:

Same as if we bought AAPL, is that a Ponzi too? 

Apple had 2020 earnings of of 3.21USD per share and trades at a price of 133.

133 / 3.21 = 41

From this alone we can work out that if Apple didnt as much as track inflation, we would still have had earnings attributable to us equal to our initial investment in 41 years.

A poor deal, but still a metric to judge a business by.

Are there any similar measures by which you can judge fair value for bitcoin?